I remember reading that Gordon Brown said the Government can either tax or borrow to raise money when he was acting as PM. As if he had forgotten or never knew that governments ought to create money and put it in circulation, if they want to ‘run’ the economy.

Cashissued by the Government – rather than Credit borrowed from the Central Bank

free of interest – rather than interest-bearing

spent by Government

rather than banks selling Credit at interest to ‘consumers’.

It is remarkable how ‘economics’ was introduced to obfuscate what ‘money’ is and how bankers have succeeded in getting their Credit accepted as if it was remotely comparable with Government issued Cash.

What is even more remarkable is how ‘people behind the scenes’ have succeeded in setting up more and more central banks via whom to export this fundamental mechanism of Anglo-Saxon hyper-capitalism globally. Iran and Korea are the only countries left.

At the same time, I hope s/he would appreciate that the real cause is the quality of money that is circulating in the money supply of our nationa. Our chairman Austin Mitchell MP, who has been called the only honest MP, has tabled an Early Day Motion on Interest Free Credit. This is the “obvious” answer, if only the Treasury wanted to solve problems. But which MP understands the issue, while institutions continue to run ‘business as usual’? Might you want to write to your MP?

This is a belated clarification regarding myself in your letter to our Chairman Austin Mitchell MP of March 17. For I am not one of Austin’s constituents, but the organiser of a Forum that has been meeting in both Houses since 1998, as you will see on our archive site www.monies.cc. Thus it will become clear to you that my opinion is not a personal one, but that I promote the concerns of many.

In fact, our analysis is so significant that a human rights lawyer advised us to “go for Parliamentary scrutiny via the Treasury Select Committee”. Hence I’ve attended numerous Committee meetings and gave you a copy of Creating a World without Poverty by Nobel Peace Prize winner Muhammad Yunus.

The Challenging the Recession event in the Grand Committee Room of the House of Commons united a panel of seven speakers. Thanks to the gift sponsorship by Brad Meyer of Collaboration, we can offer these video recordings:

— the organiser Sabine K McNeill who has, so far, found it impossible to get funding for her company 3D Metrics. The probability is 2.5% according to the founder of the first Venture Capital fund for women.

— the co-founder Lord Sudeley whose greatgrandfather was bankrupted by Lloyds 100 years ago and whose grandmother’s estate was sold by Lloyds against the interest of the heirs

— Derek Wyatt MP who is advocating the internet as a positive solution

That this House, observing that the intention of the founding Act of the Bank of England in 1694 was `that their Majesties’ subjects may not be oppressed by the said corporation’, notes that those subjects have been seriously oppressed by the Bank’s failure to control the greed, risk-taking and speculation of the banking system over which it presides; and therefore suggests that this oppression should be dealt with as the Act provides by fines three times the value of the abusive trading.

Since Austin travels to the US this week, David Taylor MP will try to turn the message of the EDM into an Amendment to the Budget. As briefing, we pointed David Taylor MP to these banking issues – the ways of oppressing Her Majesty’s subjects.

— Michael Grimsdale ACIB, a former Lloyds Bank Manager who is helping victims of legal and financial exploitation